No new city taxes but pension threat looms, Emanuel says

Chicago Sun-Times

This article covers Mayor Rahm Emanuel’s FY2013 Budget Address delivered October 10, including his promise to hold the line on taxes and warning that the City’s pension funding crisis will have unacceptable consequences without significant reforms. The Civic Federation said pension funding is the biggest challenge to the budget, as the City faces a $700 million increase in its required pension contributions in FY2014.